Atlas Air Worldwide Holdings, parent of Atlas Air and Polar Air Cargo, posted first-quarter net income of $23.4 million, reversed from a $5.3 million loss in the year-ago period, as it benefited from the first full quarter of Polar's operating as a DHL Express carrier. The Polar ACMI contract pushes much of AAWH's fuel and maintenance expense to DHL. AAWH also retired seven 747-200 freighters last year (half of its -200F fleet), assets that previously were a big expense burden. All told, ...

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